Deleting Funds

[TMertz]

Accounting "Investment Funds" were setup for some of our investment accounts. I have setup the investment accounts as asset accounts. These Investment funds were adjusted using OOB so that they have zero balances as we close out 2011.

As of right now I have not closed out 2011. I tried to remove these funds but they have activity in 2011 so PowerChurch will not let me. After we close out 2011 if there is no activity in these funds in 2012 will we be able to delete them?

If we cannot delete them can we merge the data into the General Fund (merge Investment Fund into General Fund)? We have over five years of data.

Thanks in advance.

[JohnDMeyers]

I believe you have to DELETE OLD DATA, as in Fund Accounting / Setup / Delete Old Data.

You can select the month / year up to which you want to include in the delete. First type YES at the warning screen, then select the month / year.

I think you can delete the fund if you delete all the data up to the current month / year. Any seconds on that thought?

[NeilZ]

I believe you have to DELETE OLD DATA, as in Fund Accounting / Setup / Delete Old Data.

You can select the month / year up to which you want to include in the delete. First type YES at the warning screen, then select the month / year.

I think you can delete the fund if you delete all the data up to the current month / year. Any seconds on that thought?

John, I believe you're right. That said, before you do anything make sure you have a good backup of the entire database just in case it deletes more than you want it to. You'd want the backup anyway, so you could go back to that data if necessary, but for IRS requirements, you only need to keep 3 or 4 years. I forget which